NAB RC/AL Exam 2023 Questions with correct Answers

Integumentary - ANSWER-Skin Circulatory - ANSWER-Decreased cardiac output. Enzyme action on heart, heat rate and ability of heart to return to normal after. illness DNR - ANSWER-Order by a physician, with respect to specific patient, re: cardiac arrest or respiratory arrest. Durable Power of Attorney - ANSWER-Becomes effective when principle becomes incompetent to act for himself. Cannot make medical decisions unless specifically stated. Guardian - ANSWER-Legal responsibility and authority to make decisions for an incompetent or a minor. Appointed by court. Specifically states authority. Living Will - ANSWER-Concerning life of person executing will, in which individual provides guidance for circumstances under which they wish to refuse, or discontinue the use of, life-support measures administered should they become incompetent. Last Will & Testament - ANSWER-Subject matter is the disposition of property or custody of minor children. Power of Attorney - ANSWER-Written agreement under which the principal authorizes the agent to act on his or her behalf. Need not be an attorney. An ordinary power of attorney automatically terminates if the principle becomes incompetent. Hiring Records - ANSWER-Keep 1 year. Keep EEO info separate. Basic Employee Information: I-9, Work permits for minors. - ANSWER-Keep 3 years after hire or 1 year after termination, whichever is later. I-9's are completed within 3 days of hire. 4 Years - ANSWER-How long do you have to keep Payroll Records & Tax Records Employment Actions - ANSWER-Keep 1 year after date of hire. Job-Related Illnesses and Injuries - ANSWER-Keep 5 years. 30 Years - ANSWER-How long must you keep Health, Medical, Safety Data, Medical Exams Toxic Substance Exposure Records Blood-Borne Pathogen Exposure Records Life Safety Code - ANSWER-Codes described by NFPA to provide state/local building departments guidelines for regulating building codes. Adopted but not mandated. MSDS - ANSWER-Explanation including: Chemical Name of Product Commercial Name of Product Chemical Contents of Product Hazards of Product What to do in event of exposure to product Combustibility Info How to use product NFPA - ANSWER-National association that prescribes safety codes and definitions for state and local agencies to adopt as building regulations. OHSA - ANSWER-Federal guidelines that include safety requirements of workplace; and reporting guidelines for illnesses, injuries, and exposure to hazardous substances that occur in workplace. Financial Statement Analysis: Key Financial Statements - ANSWER-1. Balance Sheet 2. Income Statement 3. Cash Flow Statement Ratio Analysis - ANSWER-Used to evaluate an organization's financial health. Income Statement - ANSWER-Financial report that summarizes revenues and expenses. Shows net profit or loss for a specific accounting period. Also known as P&L or Statement of Revenue & Expense. Net Operating Income - ANSWER-Equals Revenue - Expenses Chart of Accounts - ANSWER-Index showing order and numbering of all accounts in a ledger. Organized into 5 groups. Chart of Accounts - Five Groups (CLEAR) - ANSWER-Capital Expenses Liabilities Expenses Assets Revenue Profit Margin - ANSWER-Defined as ratio of income to sales. Gross Profit Margin - ANSWER-The percentage return that the facility is earning over the cost of providing services. Equation: Gross Profit/Sales. Net Profit - ANSWER-Percentage of net income generated by each service in for-profit facilities. Equation: Net Income/Sales. Indicates what portions of revenues contribute to income. Amortization - ANSWER-Process of paying off a liability, deferred charge or capital express over time. Cash Flow - ANSWER-Equation: Cash Receipts - Cash Disbursements for a specific period of time. Property and Casualty Insurance - ANSWER-Indemnifies a person with an interest property for its loss or the loss of its income-producing abilities. Generally insures against breakdown of boilers, machinery and electrical equipment. Coverage typically provided on: 1. Damage to equipment; 2. expediting expenses; 3. Property Damage to the property of others; 4. Supplementary payments; 5. Automatic coverages is provided on additional objects. Professional Liability Insurance - ANSWER-Protects against claims alleging that one's negligence of inappropriate action resulted in inappropriate action resulting in bodily harm or property damage. Accounts Payable - ANSWER-$ owed. Accounting entry that represents entity's obligation to pay cash to creditors. Entry is found on a balance sheet under the heading "current liabilities." Accounts Receivable - ANSWER-$ owed by customer to a community in exchange for good and services that have been delivered but not yet paid for. Recorded as "Asset" because they represent a legal obligation for customer to remit cash for its debts. Cost Creep - ANSWER-Increasing of costs (usually labor) as a result of increased resident acuity without any increase in revenue as an offset. Current Assets - ANSWER-Cash and its equivalents, receivables, and inventories. Current Ratio - ANSWER-Equation: Current Assets/Current Liabilities. Determines financial health of organization. The wider the margin by which current assets exceeds current liabilities, the sounder the organization. Debit - ANSWER-An accounting entry that either increases assets or decreases liability. An accounting entry that could be found on Balance Sheet. Credit - ANSWER-An accounting entry that either decreases assets or increases liability. Accounting entry that could be found on a Balance Sheet. Fiscal Year - ANSWER-Yearly accounting period used by a company. Any 12-month period chosen by the company for computing and reporting profits. Components of Income Statement - ANSWER-RES: Revenues, Expenses, and Statement or Notes Liabilities - ANSWER-Debts, ownership by stockholders (payables), reserves, claims against company. Stockholder's Equity - ANSWER-Net worth. Represents excess of assets over liabilities. Working Capital - ANSWER-Equation: (Current Liabilities - Current Assets) + Net Income + Deferred Taxes + Proceeds from any sale of noncurrent assets. Benchmarking System - ANSWER-Helps providers determine whether their operating results are similar to others. Definition: to run a financial analysis and compare the findings to other firms in order to assess a company's competitiveness, productivity and efficiency. The process of comparing a firm's performance criteria and business processes to other businesses within their trade.